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CNEC Leasing, Huabao Leasing, AVIC Leasing and ABC Leasing sign agreements with COMAC

C919 secures another 130 orders, making total orders amount to 730

Last Updated (Beijing Time):2017-09-19   Source:News Center of COMAC
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Site of signing ceremony.

 

Commercial Aircraft Corporation of China, Ltd. (COMAC) signed purchase agreements on C919 aircraft respectively with CNEC Financial Leasing Co., Ltd. (CNEC Leasing), Huabao Duding (Shanghai) Financial Leasing Co., Ltd. (Huabao Leasing), AVIC International Leasing Co., Ltd. (AVIC Leasing) and Agricultural Bank of China Financial Leasing Co., Ltd. (ABC Leasing) at the Aviation Expo/China 2017 (17th Expo) on September 19th, 2017. Mr. He Dongfeng, Chairman and Secretary of the Party Committee of COMAC, Mr. Wu Guanghui, Vice President of COMAC, and officers of China Nuclear E&C Group (CNEC), China Baowu Steel Group Corporation Limited (Baowu Steel), Aviation Industry Corporation of China (AVIC) and Agricultural Bank of China attended the signing ceremony and made speeches.

Among which, CNEC Leasing signed a purchase agreement on 40 C919 aircraft, including 20 firm orders and 20 intent orders; Huabao Leasing signed a purchase agreement on 30 C919 aircraft, including 15 firm orders and 15 intent orders; AVIC Leasing signed a purchase agreement on 30 C919 aircraft, including 15 firm orders and 15 intent orders; ABC Leasing signed a purchase agreement on 30 C919 aircraft, including 20 firm orders and 10 intent orders. As ABC Leasing had signed a purchase agreement on 45 C919 aircraft with COMAC in 2012, it became the first customer to increase aircraft orders after the first flight of C919 aircraft. Thus, COMAC had a total of 27 customers of C919 aircraft and secured a total of 730 orders.

Officer of CNEC Leasing, Mr. Zhu Yonghong, CFO of Baowu Steel, and Officers of AVIC Leasing and ABC Leasing expressed in their speeches at the signing ceremony that implementing C919 program is a significant decision made by the Central Committee of CPC and the State Council to build an innovative country, to improve our independent innovation capability and to enhance the core competitiveness of the country. The first flight of C919 on May 5th this year was salient and inspiring. Signing these purchase agreements on C919 aircraft was the need of promoting the branding and large-scale operation of their business; they had full confidence and expectation in C919 aircraft, and would continue to support and boost the development of China's civil aircraft industry.

COMAC expressed that they were glad to have four customers sign the purchase agreements on C919 aircraft today and were grateful for the trust and support of the customers and the public in C919 program. This was the largest deal after the first flight of the first C919 aircraft, which fully demonstrated the affirmation and recognition of C919 aircraft by the market and the public. COMAC had strictly followed internationally advanced airworthiness standards during the research and development of C919 aircraft, ensured that C919 aircraft could achieve international top-ranking level, and been committed to provide safe, economical, comfortable and environment-friendly civil aircraft for customers. In the follow-up work, COMAC would continue to adhere to high standards and strict requirements, cherish the customers' trust in C919 program, expedite the airworthiness certification, strive for early delivery of the aircraft to customers, and continuously meet the demand of civil aviation market.

CNEC Leasing is jointly established by three holding subsidiaries of CNEC and is a secondary unit directly managed by CNEC. It mainly provides the professional services such as financial leasing, commercial factoring, business consulting and investment bank for the member units of CNEC and market advantageous enterprises to further promote the combination between industry and finance of CNEC. CNEC Leasing is registered in China (Shanghai) Pilot Free Trade Zone with a registered capital of 200 million US dollar.

Huabao Leasing is jointly established by Huabao Investment Co., Ltd., Baowu Steel (Hongkong) Investment Co., Ltd. and Shanghai Duding Enterprise Management Center (Limited Partner). It was registered in China (Shanghai) Pilot Free Trade Zone on February 28th, 2017 as a core secondary subsidiary directly managed by China Baowu Steel Group Corporation Limited (Baowu Steel). Huabao Leasing has adhered to the consistent work style of "being honest, standardized, robust and rigorous" of Baowu Steel, adopted the business strategy of marketization, specialization and differentiation, and was committed to become a financial leasing company which "has outstanding brands, steady operation, sustainable growth and an industry-leading position".

AVIC Leasing is subordinate to Aviation Industry Corporation of China, and is listed in the first batch of domestic financial leasing enterprises approved by the Ministry of Commerce and the State Administration of Taxation. Its main business covers financial leasing of aircraft, ship, electromechanical and transportation equipment, infrastructure, etc. As the only specialized leasing company with aviation industry background in China, AVIC Leasing gives full play to its advantages of technology, capital and talent to quickly build an aviation leasing business platform based on strong aviation industry background to provide efficient and convenient financial leasing service for enterprise customers' business expansion, product sales, assets management, etc.

ABC Leasing is a bank-owned financial leasing company wholly owned by Agricultural Bank of China and approved by China Banking Regulatory Commission. It is registered in Shanghai with a registered capital of 3 billion yuan. It has a business office in Beijing and is entrusted to manage Agricultural Bank of China International Aviation Leasing Co., Ltd. in Singapore. The total assets of the company are nearly 40 billion yuan at present.

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